United Kingdom Consumer Confidence October 2018

United Kingdom

United Kingdom: Consumer sentiment worsens in October

October 31, 2018

The GfK consumer confidence indicator fell from minus 9 points in September to minus 10 points in October. As a result, the index moved further into negative territory, where it has been since April 2016, highlighting that consumers are broadly pessimistic.

October’s decrease reflected consumers’ worsened views of their personal financial situation and the general economic situation over the next 12 months, and a reduced willingness to make major purchases. Consumers’ views of their personal financial situation and the general economic situation over the past 12 months were unchanged.

Going forward, recent signs of faster wage growth, if maintained, could support confidence. However, ongoing Brexit uncertainty and tighter financial conditions will likely weigh on sentiment.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.4% in 2019 and 1.5% in 2020.


Author:, Economist

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UnitedKingdom Consumer Confidence October 2018

Note: GfK Consumer Confidence Index.
Source: The GfK Group.


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